Regulation & Compliance
Commentary: Does FSOC Understand the Business of Insurance?
The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that "material financial distress at AIG could pose a threat ...
U.S. Railway in Quebec Disaster Gets Canada Bankruptcy Protection
The U.S. railway whose runaway train killed 47 people in a tiny Quebec town last month was granted bankruptcy protection from a Canadian court on Thursday and took steps in that direction in a U.S. ...Third Point Re With No U.S. Staff Claims Eligibility for JOBS Act Disclosure Limits
Billionaire hedge-fund manager Daniel Loeb's Third Point Reinsurance Ltd., which has no staff in the U.S., said it can limit financial disclosure after a public offering because of rules promoting ...
Nuveen Investments Sues AIG, Former Executives Alleging Securities Fraud
Twenty-five Nuveen Investments Inc. funds sued American International Group Inc., claiming the company committed securities fraud in the months leading up to the U.S. financial crisis in 2008. Also ...
Ebix Says Money Laundering Allegations Are False
Ebix Inc. said allegations that it was involved in money laundering were false, after its shares tumbled on a Bloomberg report that federal investigators were reviewing the insurance software maker's ...
Insurance Tech Firm Ebix Is Subject of Money Laundering Allegations
Federal investigators are reviewing Ebix Inc.'s cross-border financial transactions to see whether the Atlanta-based software company engaged in money laundering, according to three people with ...
Insurer Loses Lawsuit Over $560 Million in U.S. Taxes
John Hancock Life Insurance Co.'s claims for deductions for a series of leveraged lease transactions were denied by the U.S. Tax Court, a decision that could cost the company as much as $560 million. ...Downgraded Meadowbrook Partners With State National For ‘A’ Rated Paper
After A.M. Best downgraded the financial strength ratings of the insurance operations of Meadowbrook Insurance Group on Friday, the insurer announced on Monday that it had entered into an agreement ...